Market Live Updates: BSE Sensex closed at 38730.86 down -323.82 points or by -0.83 % and NSE Nifty closed at 11637.05 down by-89.1 points or by -0.76 % after brent crude rose above $75 per barrel for the first time in 2019 in the wake of tightening sanctions on Iran.
The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 331.25,+2.08%), Tata Consultancy Services Ltd. (Rs. 2197.20,+0.54%), Bajaj Auto Ltd. (Rs. 3088.80,+0.41%), among others.
On the sectoral front, BSE Oil & Gas index closed at 14997.57 up by 16.74 points or by 0.11%. Bharat Petroleum Corporation Ltd. (Rs. 359.00,+3.01%), Hindustan Petroleum Corporation Ltd. (Rs. 274.10,+2.14%), Petronet LNG Ltd. (Rs. 237.55,+0.64%), Indraprastha Gas Ltd. (Rs. 309.85,+0.52%).
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2841, shares advanced were 1200 while 1465 shares declined and 176 were unchanged.
Here's a look at live updates for the Indian share market today:
Maruti shares falls 2% post Q4 results
Maruti's stock fell 2% to day's low of Rs 6,880, after the company reported a fall in net profit for the Q4 ended March 31. Company's net profit fell by 4.6% to Rs 1,795.6 crore, down 4.6% compared to the same period previous year. It registered net sales of Rs. 20,737.5 crore, up by 0.7% over the same period previous year.
The board of directors have also recommended a dividend of Rs. 80 per share of face value Rs 5- for 2018-19, the same as that of last year.
Stock has been losing for the last 5 days and has fallen 7.29% in the period. The stock currently trades at Rs 6,920, down 1.48%.
Read full report here: Maruti Suzuki's consolidated profit falls 2.9% to Rs 7,650.60 crore in FY19
L&T Finance Holdings and Apis Partners announce equity investment of up to US$ 110 million
Apis Growth Fund II, a private equity fund managed by Apis Partners LLP has agreed to invest up about Rs 770 crore in L&T Infra Debt Fund Ltd (L&T IDF),a subsidiary of LTFH.
Out of the total investment amount, 70% is in the form of growth capital for L&T IDF and 30% is for purchase of shares from existing shareholders.
"The Fund's investment into L&T IDF will support the growth of its loan book focused on infrastructure projects in India, strengthen its capital structure, and further its technology and digitisation strategy. This long-term partnership will support the company in accessing low cost international sources of funds which will be utilised to refinance operational infrastructure projects in India," company said in a regulatory filing.
The stock is currently trading at Rs 138, down 1.25%. L&T Finance Holdings is a non-banking unit of engineering-to-software giant Larsen & Toubro Ltd that lends to infrastructure projects.
Neogen Chemicals IPO Subscribed 78%
Mumbai-based Neogen Chemicals' Rs. 132-crore IPO or initial public offer, which opened for subscription on Wednesday, was subscribed 78 % on Thursday afternoon. The issue price band is fixed at Rs 212-215 per share, with a minimum lot size of 65 equity shares. The issue closes on April 26 and IPO will be lisitng on May 8, on both the exchanges, BSE and NSE.
Read full report here: Neogen Chemicals IPO subscribed nearly 80% on Day 2
Indiabulls Real Estate top gainer on BSE
As per latest reports, Indiabulls Real Estate has decided to disinvest in light of the sluggish London property market amid the uncertainty over Brexit uncertainty.
Commenting on the clarification on news item by the BSE, company in a BSE filing yesterday said that it would not comment on speculations.
"The company has been engaged in its business re-organization exercise for quite some time in the past and have been keeping the exchanges informed on such related developments, if any," it said, adding that it did not want to comment on speculations with respect to such discussions.
The stock has been gaining for the last 2 days and has risen 19.04% in the period. Company also posted its fourth quarterly results yesterday.
The stock rose almost 10 % and touched an intraday high of Rs 127.
Read full report here: Indiabulls Real Estate share jumps 13% on raising Rs 1,807 cr from London property sale
Investor Dolly and Rajiv Khanna cuts stake in nine companies in the Q4
IFB Agro Industries, JK Paper, Muthoot Capital, Nilkamal, Nocil, Rain Industries, RSWM, Ruchira Papers and Som Distilleries & Breweries are the companies in which they decreased stake in Q4.
They have also raised stake in two companies namely Radico Khaitan and Butterfly Gandhimathi Appliances
UltraTechCement surges to a new 52-week high after reporting a strong earnings for January-March quarter
Ultratech Cement's consolidated PAT increased to Rs 1,013 crore in Q4 FY19 versus Rs 446 crore in the same quarter a year ago; EBITDA rose to Rs 2,459 crore as compared to Rs 1,892 crore in FY18
Stock has been gaining for the last 2 days and has risen 1.37% in the period. The share has touched an intraday high of Rs 4,686.30 (6.59%), which is also a new 52-week high.
UltraTech posts robust results for Q4 FY18-19: Benefits of acquisition reflect in earnings with sales volumes up by 18%, net profits up 148% and operating EBITDA by 63% over Q3 FY18-19. Click here to read more https://t.co/R6I3kW2wHCpic.twitter.com/muDjJAv99q- UltraTech Cement Ltd (@UltraTechCement) April 24, 2019
Listing of equity shares of Jinaams Dress Ltd
A per the filing on BSE, "Trading Members of the Exchange are hereby informed that effective from April 25, 2019, the equity shares of Jinaams Dress Ltd. are listed and admitted to dealings on the Exchange in the list of MT Group Securities".
Shri @ashishchauhan , MD&CEO, #BSE presenting momento to Shri Rahul Oswal, CMD, @Jinaamdress Limited at Listing Ceremony of Jinaam's Dress Limited on 25th April, 2019 at @BSEIndia#IPO#ListingCeremony#Listing#BSESME@BSESMEpic.twitter.com/zcqH4Izssv- BSE India (@BSEIndia) April 25, 2019
Asian markets are lower today as Chinese and Hong Kong shares are down. The Shanghai Composite is off 1.22% while the Hang Seng is down 0.09%. The Nikkei 225 is not trading.
Jason Unsworth takes up offer to buy stake in Jet Airways
In an exchange filing, Jet Airways confirmed that it received an unsolicited communication for stake sale and the sender has bee advised to formally engaged with SBI Caps, which is heading the bidding process for the same. Lenders of Jet Airways are planning to recover debt to the tune of Rs 8,500 crore buy selling stake in the embattled airline.
share of @jetairways I believe 75% shares are available and believe we will be able to offer an amount higher then the actual debt of »810 Million GPB, $1.3 Billion USD we have received multiple offers of encouragement and an extremely positive response from all @jetairways staff- Jason Unsworth (@JasonUnsworth2) April 25, 2019
Jet airways stock has fallen after 2 days of consecutive gain and touched an intraday low of Rs 162.50 (5.11%) in today's trading session.
Read full report here: British entrepreneur Jason Unsworth takes up offer to buy stake in Jet Airways with lenders
Trident to consider the stock split on May 13 and to consider fund raising via share sales, convertible bonds. #MOMarketUpdates- Motilal Oswal Group (@MotilalOswalLtd) April 25, 2019
Trident to consider Stock Split on May 13
Trident Ltd informed BSE that in the board meeting to be held on May 13, 2019, the company plans to consider and recommend sub-division/split of company's equity share having face value of Rs 10 each.
Vodafone Idea rights issue receives bids for 1,109 crore shares
According to data available on the NSE, Vodafone Idea's rights issue, which was priced at Rs 12.50 apiece entailing 2,000 crore shares received bids for 1,109 crore shares. The rights issue which opened on April 10 received bids for 11,09,28,57,339 shares, as per the data.
Read full report here: Vodafone Idea's rights issue received bids for 1,109 crore shares, says NSE
ICICI Prudential shares rise 5% post Q4 results
Shares of ICICI Prudential rose almost 5% intraday after the company announced it registered total income doubling in the March quarter to Rs 16,053.89 crore compared to Rs 7,136.87 crore in the year-ago period. The total premium registered a growth of 14.3 percent from Rs 27,069 crore to Rs 30,930 crore in 2018-19, ICICI Prudential Life said in a regulatory filing.
ICICI Prudential shares had a trend reversal today after 2 days of consecutive fall. The stock rose almost 5% to touch an intraday high of Rs 379 and currently trades at Rs 370, up 1.89%.
IPRU Life reported impressive quarterly results. Company reported 4QFY19 PAT of INR2.6b (in-line). Gross premium growth picked up to 16.4% YoY in the quarter (+14.3% for FY19), mainly led by ~11%/118% growth in first-year/single premium. #MOMarketUpdates- Motilal Oswal Group (@MotilalOswalLtd) April 25, 2019
Axis Bank, Biocon, Cyient, GHCL, Indiabulls Ventures, Maruti Suzuki, MCX, Rallis India, SBI Life Insurance and Tata Steel among others.
Ultratech Cement - Reported strong numbers thanks to good volume growth and subdued cost. All India Cement utilisation stood at 78%.
M&M Finance - Reported above expected quarterly numbers guided by strong collections and good disbursements. Bad loans comes down meaningfully.
Tata Elexi - Numbers less than market expectation due to weaker revenue. Advisable to shift from Tata Elexi to TCS.
Top Gainers and Losers
Grasim, Ultratech Cement, PowerGrid, NTPC, and Hindalco were the top gainers on the Nifty, while, Bharti Infratel, Indiabulls Housing, Tata Motors, IOC and Adani Ports fell the most on the index.
Orient cement, Balrampur Chini Mills, Ultratech Cement, DCM Shriram, and SpiceJet are the top gainers on Sensex, whereas Reliance Communications, Jet Airways, Bharti Infratel, Vodafone Idea, and M&M Financial Services are the top losers on the BSE.
Sensex value at 25 Apr, 2019 09:33 AM: 39,096.43- Sensex India (@bse_sensex) April 25, 2019
The BSE Sensex was trading down 29 points at 39,025 and the broader NSE Nifty50 fell 3 points to 11,724 level.
In BSE, out of 1728 stocks, 1102 are advancing against 617 declining and 89 stocks unchanged.
Sectoral indices were trading mixed with IT, Metal, Auto falling over 0.2 %.
Institutional Inflows and Outflows
Foreign institutional investors (FIIs) bought shares worth 974.88 Cr on a net basis, while domestic institutional investors (DIIs) sold shares worth 657.06 Cr yesterday.
VIX closed at 23.71. Max Put OI is at 11500 then 11600 strike while Max Call OI is at 11800 then 12000 strike. Option band signifies a shift in a trading range in between 11600 to 11800 zone.
Market Closing on Wednesday
Yesterday late hours showed buying in heavy weights which should give push up to the market today also. Broader Indices Nifty closed at 150 points at 11,726 level and Sensex ended 489 points up at 39,054. The BSE Sensex touched intraday high of 39095.35 and intraday low of 38571. The NSE Nifty touched intraday high of 11740.85 and intraday low of 11578.85.
Expect market to open on a flat note on account of global cues. U.S. equities edged marginally lower (down 2%) as investors assessed corporate earnings and economic data. The S&P 500 Index slumped 0.2% from Tuesday's record close. AT&T Inc. and Caterpillar Inc. #MOMarketUpdates- Motilal Oswal Group (@MotilalOswalLtd) April 25, 2019
Markets are expected to open flat ahead of F&O expiry on account of global cues. Asian stocks are trading mixed. Hong Kong declined 0.4%, while Nikkei trades marginally positive ahead of policy meet. US stocks slipped from record levels as Wall Street digested a mixed batch of corporate earnings.
SGX Nifty on the Singapore Exchange slipped 26 pts or 0.2%.
Rupee openes lower
Rupee opened lower at 70 against the dollar versus wednesady's close of 69.87/$.
(Edited by Rupa Burman Roy)